Archon Capital Management LLC Sells 180,000 Shares of Healthcare Services Group, Inc. $HCSG

Archon Capital Management LLC cut its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 53.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 154,940 shares of the business services provider’s stock after selling 180,000 shares during the period. Healthcare Services Group makes up 1.9% of Archon Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Archon Capital Management LLC’s holdings in Healthcare Services Group were worth $2,329,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Nuveen LLC bought a new position in Healthcare Services Group in the 1st quarter valued at approximately $11,745,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Healthcare Services Group by 240.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,496,835 shares of the business services provider’s stock valued at $22,497,000 after acquiring an additional 1,056,705 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Healthcare Services Group by 183.0% during the second quarter. American Century Companies Inc. now owns 1,278,993 shares of the business services provider’s stock valued at $19,223,000 after acquiring an additional 827,057 shares during the last quarter. CSM Advisors LLC acquired a new position in shares of Healthcare Services Group during the second quarter worth $8,864,000. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in shares of Healthcare Services Group by 90.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,190,280 shares of the business services provider’s stock worth $11,998,000 after purchasing an additional 565,520 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HCSG. UBS Group reaffirmed a “buy” rating on shares of Healthcare Services Group in a research report on Monday, November 24th. Zacks Research downgraded Healthcare Services Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Benchmark lifted their price objective on Healthcare Services Group from $19.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Wall Street Zen downgraded shares of Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 28th. Finally, Macquarie restated a “buy” rating on shares of Healthcare Services Group in a report on Wednesday, November 26th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Healthcare Services Group currently has a consensus rating of “Hold” and a consensus price target of $19.40.

Healthcare Services Group Stock Down 0.1%

Shares of NASDAQ HCSG opened at $18.79 on Friday. The firm has a market cap of $1.32 billion, a PE ratio of 34.80 and a beta of 0.75. The company’s fifty day simple moving average is $17.47 and its 200 day simple moving average is $15.67. Healthcare Services Group, Inc. has a 12-month low of $9.13 and a 12-month high of $20.00.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Wednesday, October 22nd. The business services provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.02. The firm had revenue of $464.34 million during the quarter, compared to the consensus estimate of $460.36 million. Healthcare Services Group had a net margin of 2.20% and a return on equity of 12.23%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 earnings per share. On average, equities analysts predict that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current year.

Healthcare Services Group Company Profile

Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.